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Harley-Davidson earnings exceed Wall Street expectations in second quarter

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Posted at 10:59 AM, Jul 23, 2019
and last updated 2019-07-23 11:59:47-04

MILWAUKEE (AP) — Harley-Davidson Inc. (HOG) on Tuesday reported second-quarter earnings of $195.6 million.

On a per-share basis, the Milwaukee-based company said it had profit of $1.23.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.22 per share.

The motorcycle maker posted revenue of $1.63 billion in the period. Its adjusted revenue was $1.43 billion, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $1.44 billion.

Harley-Davidson shares have climbed slightly since the beginning of the year, while the Standard & Poor's 500 index has climbed 19%. The stock has declined 18% in the last 12 months.